HTGP (Cordage) Ltd (13286379): administration
- Status
- Administration ended
- Administration began
- 2022-07-14
- Administrators' firm
- Antony Batty
- Incorporated
- 2021-03-23
- Location
- London
- Industry
- 64303 Activities of venture and development capital companies
From the administrators' statement
The Company was incorporated on 23 March 2021 in the name of HTGP(Cordage) Ltd.(“the Company”). The registered address of the Company was 6 St Georges Square, Portsmouth, Hampshire, PO1 3EY. The nature of the business was that of venture and development investment capital.
The Company had a facility agreement with 170 Ltd (“the lender/170”) and borrowed a loan in the sum of £500,000. The loan was advanced for the specific purpose of providing finance to subsidiaries of a company called Cordage Estates Limited(“CEL”).
The Company accordingly entered into a corresponding agreement with CEL, under which the Company made available to CEL the facility of £500,000. The terms of the agreement between the lender and the Company included a provision that the Company was to pay 50% interest on the loan principal per annum. It is understood that the Company failed to pay the loan amount with interest by 28 April 2022.
Administrators' statement of proposals (2022-09-14) · Companies House register